Deepa Has Finally Decided Where to Attend Graduate School-University of Illinois

question 122

Multiple Choice

Deepa has finally decided where to attend graduate school-University of Illinois at Urbana-Champaign. After she has informed all the schools of her final decision, she begins to question her choice. However, she immediately focuses on all the reasons Illinois was the best choice for her and better than her other options by far. This reassures her and makes her happy again. Deepa's feeling of uncertainty and subsequent motivation to justify her choice is an example of ____.

• A)attributional regret
• B)post-decision dissonance
• C)tyranny of choice
• D)attitude accessibility

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Definitions:

Natural Monopoly

A market situation where a single firm can supply a product or service to an entire market at a lower cost than what two or more firms can.

Long Run

In economics, a period during which all inputs, including capital, are variable and firms can enter or exit the industry, allowing full production adjustment.

Average Total Cost

The per unit cost of production, calculated by dividing the total cost by the quantity of output produced.

Government-created Monopolies

Monopolies that are established or maintained by the government, often by granting exclusive rights or privileges to a single entity or organization.